Cadila Healthcare rose 1.29% to Rs 1,820 at 15:15 IST on BSE after the company said the Zydus group has received the market authorisation from the United States Food & Drug Administration to market Morphine Sulfate ER tablet.
The company made announcement during trading hours today, 1 July 2015.
Meanwhile, the BSE Sensex was up 231.09 points, or 0.83%, to 28,011.92.
On BSE, so far 12,522 shares were traded in the counter, compared with an average volume of 14,734 shares in the past one quarter.
The stock hit a high of Rs 1,852 and low of Rs 1,799.05 so far during the day. The stock hit a record high of Rs 1,998 on 7 April 2015. The stock hit a 52-week low of Rs 1,039 on 30 June 2014.
The stock had underperformed the market over the past one month till 30 June 2015, falling 4.46% compared with 0.17% fall in the Sensex. The scrip had however outperformed the market in past one quarter, rising 5.66% as against Sensex's 0.7% decline.
The large-cap pharma company has an equity capital of Rs 102.37 crore. Face value per share is Rs 5.
Cadila Healthcare said that the product used in the treatment of chronic pain or cancer related pain will be manufactured at Nesher Pharmaceuticals (USA) LLC, located at St. Louis, USA. A subsidiary of Zydus Pharmaceuticals (USA) Inc., Nesher has considerable expertise in niche therapies with development or products barriers, such as controlled release medications and DEA-controlled substances.
Cadila Healthcare's net profit rose 60.2% to Rs 347.06 crore on 30.9% rise in total income to Rs 1468.85 crore in Q4 March 2015 over Q4 March 2014.
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